What is Knowledge Management?

Most organizations have vast amounts of intangible knowledge assets, like answers to frequently asked questions, product explanations, policies, procedures customer information, purchase history, and more. Knowledge management is the process of curating, organizing, and maintaining company knowledge into one usable, useful, and up-to-date knowledge base for customers and agents to access quickly and easily when across all touchpoints. It allows company knowledge to be centralized and remain consistent when accessed by web self-service, mobile applications, email, chat, social media, or any other customer engagement platform.

Importance of Knowledge Management

Because today’s customer expects immediate information without having to wait for a reply, self-service channels are growing in popularity and demands on live agents to work efficiently are increasing. In order to provide a great experience on self-service and live agent channels, you must have an effective knowledge base to deliver the right information instantly and easily. The fact that you must build and maintain a robust knowledge base that delivers on customer expectations highlights the importance of knowledge management, because the key to a strong knowledge base is effective and efficient knowledge management. Keeping knowledge base content up to date, relevant to what customers are looking for, and comprehensive across products, departments, and lines of business is imperative to delivering a great customer experience. With a solid knowledge base, artificial intelligent solutions can draw more helpful information and more accurate responses when helping both customers on the front line and agents behind the scenes. Essentially, the strength of your knowledge base affects agent efficiency, customer satisfaction (CSAT), and net promoter scores (NPS).

Knowledge Management Tools

Many organizations begin by manually collecting their knowledge assets in an Excel document, but as the organization grows, so do the complexity of the knowledge base and the demands of maintaining it. Instead of manually updating static documents, organizations can import existing knowledge bases into a single knowledge management tool. This consolidates all knowledge resources under one source of management, which is not only easier to maintain but also allows customer and support agents to access the same knowledge content, ensuring ease of finding information and consistency in responses across self-service and agent support. Once the knowledge base is imported, advanced knowledge management tools make it easy to manage and add content without a lot of time or resources. Bold360 ai’s dashboard offers knowledge management tools to add, delete, approve, edit, and categorize knowledge base content. It shows you what areas of your knowledge base need attention based on insights from actual customer experiences and can automatically update articles based on real-time agent feedback.

Knowledge Management Strategy

Effective knowledge bases continue to evolve to better serve the needs of customers and agents. But when it comes to maintaining vast amounts of company knowledge, how do you know what to focus on? A knowledge management strategy allows you to prioritize where to put your efforts, helping you to make decisions about what articles to create from scratch, update, or break out into more granular sections. Advanced knowledge management tools assist with knowledge management strategies by keeping you informed on where there are gaps in your knowledge base, where you could optimize content, and what questions your customers are asking most often. This helps you make informed, strategic decisions on what topics you should train your service team to handle, how to adjust your website information, how to optimize your knowledge base content, and even what other sales materials or other communications should be revised to address flagged issues.

Artificial Intelligence in Knowledge Management

Bold360 ai uses artificial intelligence in knowledge management to offer advanced insights and assist in your knowledge management strategy. As AI-powered chatbots handle customer self-service, the Voices Dashboard collects engagement information in real time and provides a visual representation of topics being asked in categorized tiles. The size of a tile indicates the number of engagements on that topic, while the color denotes how well the chatbot was able to provide a response from the knowledge base: green tiles mean the chatbot is successfully pulling the right answers to that topic, while red tiles mean the chatbot was unable to respond. Since these inputs happen in real time, your team can make changes to knowledge content on the fly in the same dashboard, and those changes are immediately available for the chatbot to use while assisting customers. Besides recognizing existing questions and answers, Bold360 ai learns new questions and answers from an intelligent feedback system. Both customers and agents have the ability to rate the usefulness of content offered by AI so you can determine where optimizations need to be made to your knowledge base content. On the agent side, once the agent informs the chatbot how to answer a query, it remembers what content to serve to successfully handle similar queries in the future. With comprehensive knowledge management capabilities and artificial intelligence helping to recognize, flag, and fill in content gaps, you can optimize your knowledge base on an ongoing basis to provide great customer experiences.

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